Company in the black but product sales faltering

SAR-Lupe Telemetrie order placed

Bremen, November 30, 2001. In the first nine months of the year, OHB Teledata group continued expanding, exceeding its revenues forecast. Total output rose to EUR 9.85 million (previous year: EUR 4.85 million). Earnings fell short of expectations, with EBIT coming in at EUR 11k and EBT at EUR 505k. On the basis of the volume of business which can be ascertained for the rest of 2001, revenues will exceed projections and top the EUR 13 million mark. A small profit will be posted at the EBIT level, with EBT per share standing at EUR 0.05.
Earnings fell short of expectations due to the state of the overall economy, although trends in the individual divisions were disparate. Whereas the Projects division outperformed expectations, sales of standard telematics products were muted.  The telemetrie order has been placed for the German armed forces’ SAR-Lupe project and will have a positive impact on the top and bottom. The most recent trends in the Telematics Products division suggest that customers are more willing to invest again. There has been a significant increase in order volumes on the part of a key-account customer for 2002. Thus, the product division will considerably contribute to the growth of